Foodtech company FoodEssentials raises $1.5M

Foodtech big-data company FoodEssentials which collects, aggregates and analyzes food label data for government, retailers and manufacturers has raised a $1.5M Series A, according to their SEC filing. Edward Domain over at Techli reports that the Series A was led by Mercury Fund, formerly Mercury DFJ (Draper, Fisher, Jurvetson), a storied Silicon Valley VC. Proceeds are to be used for “working capital and other general corporate purposes.” According to the SEC filing this is a $3M offering, and so there may be more capital coming to the company in this round.

FoodEssential’s core product, LabelInsight gives retailers an understanding of what’s in the products that are on their shelves and gives CPG companies information on the latest trends in product formulation and claims messaging, according to the company’s website.

Editor’s Pick

Rob Leclerc, Founding Partner at AgFunder, will be participating in the online conference Virtual Summit on AgTech next week alongside alternative meat leaders such as Ethan Brown from Beyond Meat. Read more →

Startup Corner

Every accelerator participant will receive a convertible note of €100k for participating in the program, and Rockstart can invest up-to €2 million in those it supports into later stage alongside investor partners. Read more →

Technology Corner

The duo is hoping to smash one of the biggest barriers to biologics adoption by providing farmers with a way to cultivate living microbial inputs on the farm that cannot survive in the current supply chain without cold storage. Read more →